After a successful interview, I was promoted into a managerial role at my current job. Is it a requirement for an updated contract and for it to stipulate the change in Job title and remuneration?
A contract of employment does not have to be written and can be verbal provided that its terms and conditions can be proven in other ways should the validity of the contract ever be disputed.
In short the answer is no, a written contract is not necessary however it is advisable to have one as this makes it easier for the respective parties to be sure what the terms and conditions of employment really are.
Perhaps you can ask for one as you are within your rights to ask for a written contract.